Golden Age Home

Analysis

Golden Age Home is a registered charity in United States, based in Lockhart, TX. It received its IRS tax-exemption ruling in September 1994, 32 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Golden Age Home reported income of $1.8m and spending of $1.2m, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $921k to $1.8m (+99%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 61%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Golden Age Home sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include Grand Island Young Mens Christian Assn ($1.8m), Mobile Area Education Foundation ($1.8m) and Allan Hancock College Foundation ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.6% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $67k (5.6% of expenses). Other salaries and wages came to $571k. At year end it held assets of $1.8m against liabilities of $36k, net assets of $1.8m. It reported 60 employees.